The chapter explores Red Lobster's unsuccessful promotion of endless shrimp for $20, resulting in a significant loss of $11 million. It discusses the challenges of bottomless promotions, fluctuating shrimp prices, and the impact of economic conditions on consumer spending.
The seafood chain found itself deep in the red after a disastrous unlimited shrimp promotion. Wall Street Journal restaurant reporter Heather Haddon explains what sunk Red Lobster — and the troubled waters facing other casual dining chains.
This episode was produced by Denise Guerra and Haleema Shah, edited by Matt Collette, fact-checked by Laura Bullard, engineered by David Herman and Andrea Kristinsdottir, and hosted by David Pierce.
Transcript at vox.com/today-explained-podcast
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